GlobalFoundries (NASDAQ:GFS) Price Target Lowered to $45.00 at UBS Group

GlobalFoundries (NASDAQ:GFS) had its target price decreased by research analysts at UBS Group from $47.00 to $45.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective indicates a potential upside of 4.88% from the company’s current price.

Several other equities analysts also recently commented on the company. Citigroup cut their target price on GlobalFoundries from $45.00 to $40.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on GlobalFoundries from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Needham & Company LLC upgraded GlobalFoundries from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday. Evercore ISI lowered their price target on GlobalFoundries from $71.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Finally, Robert W. Baird reduced their price objective on GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $50.00.

GlobalFoundries Stock Up 7.0 %

Shares of NASDAQ GFS traded up $2.81 during mid-day trading on Wednesday, reaching $42.91. 2,420,302 shares of the company traded hands, compared to its average volume of 1,999,390. The stock has a market cap of $23.67 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 8.23 and a beta of 1.56. The company’s fifty day moving average is $42.48 and its two-hundred day moving average is $42.40. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.76 and a current ratio of 2.42. GlobalFoundries has a fifty-two week low of $35.85 and a fifty-two week high of $61.98.

GlobalFoundries (NASDAQ:GFS) last released its earnings results on Tuesday, February 11th. The company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). GlobalFoundries had a net margin of 10.95% and a return on equity of 6.87%. On average, analysts expect that GlobalFoundries will post 1.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GFS. Quantbot Technologies LP boosted its holdings in shares of GlobalFoundries by 89.0% during the third quarter. Quantbot Technologies LP now owns 73,762 shares of the company’s stock worth $2,969,000 after purchasing an additional 34,731 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of GlobalFoundries by 1,935.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,210 shares of the company’s stock valued at $5,120,000 after purchasing an additional 120,960 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of GlobalFoundries during the fourth quarter valued at approximately $1,748,000. Versor Investments LP increased its position in shares of GlobalFoundries by 167.7% during the third quarter. Versor Investments LP now owns 19,008 shares of the company’s stock valued at $765,000 after acquiring an additional 11,908 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of GlobalFoundries during the third quarter valued at approximately $8,361,000.

GlobalFoundries Company Profile

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.